Auctions continue to provide the best results for sellers, as properties sold under the hammer with Ray White New Zealand last week received an average price 20.2 per cent above the highest offer prior.
Ray White New Zealand had 143 properties scheduled to go under the hammer last week, with an all sold clearance rate of 43.7 per cent, up 4.1 per cent on the same time last year.
There are still plenty of buyers around with an average of 2.4 registered bidders per auction.
“As market conditions in New Zealand remain steady, so has Ray White’s auction results,” Ray White New Zealand lead auctioneer Sam Steele said.
“Last week again saw auction success rates hover just below the 50 per cent mark, while a significant increase in registered bidders, up to 2.4 on average, is reflective of agents’ comments that they are seeing increased levels of activity in many markets.
“Ray White secured 29 per cent of all auctions listed across the country last week, while auction as a method of sale continues to outperform private treaty with days on market.”
A Queenstown Lakes District home located at 1 Wicklow Terrace, Albert Town was the top sale this week, selling under the hammer for $4.65 million with Ray White Wanaka agent Anna Findlay.
The auction recorded two registered bidders, with Ray White Wanaka principal and auctioneer Duncan Good holding the gavel.
The sellers were owner occupiers who had designed and built the home in 2001, and had lived there for more than 20 years.
Ms Findlay said they decided to sell the home in order to downsize.
“The buyers were locals who are going to live in the home,” Ms Findlay said.
“They were attracted to its location on the river, it’s quite unique, as well as the size of the property.
“They just loved the feel of it, they said it felt like a real home.”
The auction with the most registered bidders was at 1/86 Rangitoto Road, Papatoetoe, Manukau City, which recorded 11 registered bidders and five active bidders.
The three-bedroom home sold under the hammer for $887,000, a great result for the seller and Ray White Pt Chevalier listing agent Semanie Cato.
The seller was a previous client of Ms Cato’s from outside the area. Ms Cato said the home attracted a lot of attention.
“We had a really solid campaign with many open homes. We had about 64 groups through over three weeks,” she said.
“The fact it was a brick and tile home in that particular street really appealed to the demographic in that area.
“The open homes drove a lot of interest and had 36 people turn up on auction day and 11 registered bidders. It was a fierce bidding war at the end.
“It was an exceptional result, the buyer was happy and the seller was over the moon.
“The buyer had been to five different auctions previously and so she was elated about winning this house yesterday.”
Media contacts:
Sam Steele
Lead Auctioneer
Ray White New Zealand
027 864 3254
ssteele@raywhite.com
Cassandra Glover
Media Advisor
Ray White Group
+61 447 000 472
cglover@raywhite.com